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skad [1K]
3 years ago
7

The competitive equilibrium rent in a standard two bedroom apartment in lawrence (a city) is $600. now suppose the city council

imposes a rent control law, imposing a price ceiling of $500. what is the impact of the rent control law?
Business
1 answer:
Mekhanik [1.2K]3 years ago
8 0
<span>Setting a rent control price ceiling will cause the same impact as any other price ceiling that is below the market equilibrium price: it will create a shortage in the market. At the price equilibrium of $600, the number of renters would exactly meet the number of available 2 bedroom apartments. However, with this fixed price ceiling, the position along the demand curve will shift to one of higher demand, with no analogous change in the supply curve. Thus there will be more renters than can be supported, and renters will have to look for alternatives and substitutes.</span>
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Which statement describes an hourly wage job? Each paycheck is the exact same regardless of number of hours worked. Each paychec
tangare [24]

Answer:

If an employer wants the employee to work more hours in a week, the result is a larger paycheck.

Explanation:

An hourly wage job means that you get paid according to the number of hours you work and your wage will be determined by this. If you work more hours your paycheck will be higher and if you work less hours it will be lower. According to this, the statement that describes an hourly wage job is: if an employer wants the employee to work more hours in a week, the result is a larger paycheck.

8 0
3 years ago
A law passed increasing the minimum wage by 10%.
MatroZZZ [7]

The increase in the minimum wage in the economy would cause employers to increase charges that they give to consumers by about 4 percent.

<h3>What is the impact of minimum wage on goods?</h3>

When minimum wage is raised in the economy, it means that the employers of labor would have to pay more operational cost for labor.

The effect that this would have on goods is that the people that consume the goods would have to pay extra for them.

Based on research, an increase in minimum wage raises prices by 4 percent in the economy.

Read more on minimum wage here:brainly.com/question/1461885

6 0
2 years ago
Interest amounting to $4 was credited to your account by the bank in September. The bank's service charge for the month was $5.
allsm [11]

Answer:

Bank Reconciliation Statement as at October 2:

Balance as per checkbook            $601

Add: Electronic transfer             $2,400

       Interest                                       $4

Less: Bank charge                            ($5)

Balance as per bank statement $3,000

Explanation:

A bank reconciliation statement is a statement prepared periodically to reconcile the balance in the cash book with the balance shown on a bank statement.

The process starts with identifying transactions that do not (do) appear in the cash book and those that do not (do) appear in the bank statement, which did not appear in the other.  Errors are also identified and corrected during the process.  After this, the reconciliation statement is prepared to agree the two sources of balances.

6 0
3 years ago
If the general education level within a country rises significantly over time, it is likely that: the country’s production possi
kiruha [24]

Answer: Option (D) is correct.

Explanation:

Correct: The country’s production possibilities curve will shift out.

The production possibility frontier shows different combination of two goods that are to be produced with the available resources. It also shows the point on the curve which represents the efficient level of quantity to be produced.

So, if there is any improvement in the factors such as technology advancement and level of education will generally results in higher economic growth and increase in the level of output.  

Hence, there is an outward shift in the production possibility frontier.

6 0
3 years ago
Which do you think would be more effective for shaping long-term ethical behavior in an organization: a written code of ethics c
-Dominant- [34]

Explanation:

A code of ethics can be defined as a set of rules and guidelines that exist in an organization to regulate the behavior and actions of all employees.

Therefore, there is no way to guarantee that only a formal and written code of ethics is necessary for managers and employees to actually practice ethical behavior.

What will define whether the code of ethics is really implemented in the company is its conduct and positioning in the internal and external environment. There is a way for a company to be unethical and have a complete and not exercised code of ethics.

Therefore, for the organizational culture to be based on the values ​​set out in the code of ethics, it is necessary to have strong ethical leadership, as the leader is responsible for motivating and guiding the actions of employees based on their own example, then in the long term , it can be said that an ethical leadership would be more impactful for the formation of the shared values ​​that form the organizational culture.

7 0
3 years ago
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